As many of you are aware, you can go through the awful experience of having your
identity stolen. Identity theft has quickly become one of the top complaints
to the Federal Trade Commission and it doesn’t show signs of slowing down!
Banks used to be robbed, primarily because that was where “the money was at,” but
today, when your identity is for sale to he highest bidder, “the money” is in cyberspace.
It’s easier and safer to steal someone’s identity, making off with a couple thousand
bucks than to rob a bank. The result: you have to take actions to protect
yourself. The credit freeze is one possibility, but it has some drawbacks,
namely that it has to be turned on and off and back on again anytime you apply for
credit. That can be a pain.
You can monitor your credit by checking your
credit report from all three credit reporting agencies at least twice a year.
Under FACTA (Fair and Accurate Credit Transactions Act), every consumer has the
right to get a copy of his or her credit report free from each of the credit reporting
agencies at least once per year (and sometimes more, depending on what state you
live in).
Instead of getting a report from all three credit reporting agencies at once, get
one from each bureau every four months (providing you with a different snapshot
three times per year). To obtain your three free reports annually, do not
contact the reporting agencies as you normally would. Instead, go to this
website, which was set up specifically to allow consumers to receive free credit
reports: www.annualcreditreport.com.
You can also monitor fraud in your medical files, on your Social Security statement,
insurance claims, or in public records.
If you find errors, no matter how small, be sure you get them fixed, and make sure
that you contact all three bureaus with your change. You should receive amended
reports within a week after the changes take effect.
Be sure you close long unused accounts that are listed as still active on your consumer
credit report.
An unused account is an opportunity for an identity thief. If you close an
account ask that it be listed as "closed at the request of the consumer."
How to contact the major consumer credit reporting agencies
800 685-1111
http://www.equifax.com
P.O. Box 740241
Atlanta, Ga. 30374-0241
888 322 5583
http://www.experian.com
P.O. Box 2002
Allen, Texas 75013 800
888-4213
http://www.transunion.com
P.O. Box 1000
Chester, Pa. 19022